18.9 Percent of Orange County Homeowners Have Loans Higher Than Value

By
Real Estate Agent with Keller Williams Realty BRE# 01922634

18.9 Percent of Orange County Homeowners Have Loans Higher Than Value

18.9 percent of Orange County homeowners owe more on their loans than their homes value(underwater). This is almost one in 5. To some this is a difficult position. It is tragic. With about 1 in 5 people in California either unemployed or underemployed this condition is serious.

Most are looking for a silver lining and the positive news. I to want the positive news. It is difficult when thing are as bad as they are here. Little is done to help with building a job base or to help small businesses. Instead we have a state that is driving small businesses out of the area.

Prices continue to drop on homes and those that are selling are moving down in size or distress properties. It does seem that many believe that if they do not focus on the problem and do not give the situation energy it will go away. Life does not work that way.

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Topic:
Real Estate Market Trends
Location:
California Orange County San Clemente
Groups:
Southern California Real Estate Forum
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Rainer
37,356
Angie Nwanodi
The ACG Group, Realtors®|Standard, Short, HUD, REO
Evergreen Realty & Associates, Inc.

Thank you for the stat ...can I ask your source?

March 18, 2012 10:44 PM
Rainer
128,954
Insurance Solutions Unlimited,LLC
Insurance Solutions Unlimited,LLC
Insurance Solutions Unlimited, LLC

WOW, those are some scary numbers in Orange county CA.... I hope things start to turn around over there

March 19, 2012 03:26 AM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

Angie the source was the Orange County Register our local paper.

March 19, 2012 07:43 AM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

National Insurance Solutions.

We need a change or we are in deep trouble.

March 19, 2012 07:44 AM
Ambassador
829,602
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

8.9 Percent of Orange County Homeowners Have Loans Higher Than Value > OUCH!  Can this be right?  I hope there was a misprint in the paper that provided this information.  Maybe you should call the paper and ask their source.   This bites for the industry as a whole my friend. 

March 20, 2012 12:23 PM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

John

It is correct that almost one in five are upside down on their mortgages.  This is after we have had one of the highest foreclosure rates in the country and most of the sales have been short sales.  Ouch is right.

March 20, 2012 12:40 PM
Rainmaker
1,230,602
Michelle Gibson
REALTOR
Hansen Real Estate Group Inc.

I often wonder what the percent is for my area although if I had to guess it's probably more than 18.9%.

March 21, 2012 09:02 AM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

Michelle

It is staggering if you really think about it.

March 21, 2012 09:25 AM
Rainmaker
973,701
Sharon Alters
Your Fleming Island Relocation Agents.
Coldwell Banker Vanguard Realty

Mark, a few years ago I was having a conversation with a high ranking banking employee. I slipped and said that 10% of all mortgages were underwater. He reacted swiftly and told me that would be a huge number. Turns out that was a low number.

Sharon

March 22, 2012 05:59 PM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

Frank and Sharon

It is almost 1 in 5 here.

March 22, 2012 07:12 PM
Ambassador
1,258,470
Debe Maxwell
Charlotte Homes for Sale - Charlotte Neighborhoods
www.AtHomesCharlotte.com | Savvy + Company Real Estate

WOW, 1 in 5 is higher than we are here, for sure.  We're seeing things turn around, thankfully, and hope you do too very soon!

March 22, 2012 07:42 PM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

I hope it does soon.  Thanks Debe.

March 22, 2012 09:56 PM
Ambassador
829,602
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

Mark - Just dropping by to wish you a great weekend in all you do my friend.  Make it a great one!

 

March 23, 2012 09:29 PM
Rainmaker
568,649
Michelle Cooks
Pensacola, Pace & Gulf Breeze Property Management
Charles Stallions Real Estate Services

Mark 1 out 0f 5 I believe we are 1 for 4 HAha, but we will all look back in a few years and say WTH

March 24, 2012 09:26 AM
Rainmaker
341,896
Dan Brudnok
REALTOR,e-PRO,ABR,GREEN,SRES,CSP
Keller Williams RE- Exton - PA License Number #RS225179L

I am not surprised, and knowing these statistics makes you better then most when it comes to selling/buying there, continued success.

March 25, 2012 04:48 AM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

Thanks Jon.

March 25, 2012 08:21 AM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

Charles

I really do hope that you are correct.

March 25, 2012 08:22 AM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

Dan

Thank you for your kind comments.

March 25, 2012 08:23 AM
Rainmaker
702,259
Ann Hayden
SelectAnn.com
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri

Mark,

I think small business need some incentives.  I also think the big retailers need to pay for insurance on their employees so the small business that do can compete.

Ann Hayden in Wildwood, MO

April 05, 2012 08:26 PM
Rainmaker
671,901
Elite Home Sales Team
A Tenacious and Skilled Real Estate Team
Keller Williams Realty

Ann

I see no problem with some small business incentives. 

April 07, 2012 08:07 AM
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Rainmaker
671,901

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